More OPEC news

The Saudi energy minister is now speaking saying:

  • UAE has shown its commitment to OPEC+cuts
  • Warns oil speculators not to bet against OPEC.
  • Exports to evolve as local consumption drops
  • We don't have to wait until December, we will be proactive

Meanwhile the UAE energy minister is now speaking and says:

  • Reaffirmed the full support, commitment to OPEC+ deal
  • Output increase in August was due to domestic demand
  • Tremendous increase in electricity demand in August
  • Will compensate oil output in October and November
  • Won't pump above OPEC+ target this month
  • To meet 100% of its OPEC+ quota in September